InnovAge Holding Corp. (NASDAQ: INNV) shares fell 9.43% to $9.65 in after-hours trading following the announcement of a secondary offering of common stock by selling stockholders. The company, which provides comprehensive programs for frail, dual-eligible seniors through its PACE program, is not selling any shares in the transaction and will not receive proceeds from the sale.
The underwritten public offering involves 10 million shares priced at $9.25 per share. The offering is expected to close on September 24, subject to customary closing conditions. The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1.5 million shares at the public offering price.
Barclays PLC, Goldman Sachs Group Inc., and Wells Fargo & Company are serving as lead book-running managers and representatives of the underwriters. UBS Investment Bank, William Blair, and KeyBanc Capital Markets are acting as book-running managers, while Academy Securities and Ramirez & Co. are co-managers.
As of June 30, 2026, InnovAge served approximately 8,230 participants across 20 centers in six states. The company has a market capitalization of approximately $1.45 billion. During the regular session on Tuesday, the stock rose 0.52% to close at $10.66.
